1Finance

Credit Agricole: what we’re watching:

Fundmental analysis:

• USD - "Friday’s US labour data should prove constructive enough to keep the Fed on track with considering higher rates in December. As such, we remain in favour of buying USD on dips."
• GBP - "Although next week’s inflation report is likely to confirm rising downside risks to growth and inflation, we believe there is little scope of falling BoE rate expectations from the current levels."
• AUD - "Given more muted price developments and ongoing uncertainty as related to Asia, it cannot be ruled out that the RBA will decide in favour of lower rates. We favour selling AUD rallies."
• NOK - "We see little scope of the Norges Bank turning more dovish next week. The NOK should remain driven by external factors such as oil prices."

Technical analysis:

• EUR/USD - the price is located below YR1 Central Pivot for the bearish market condition with the ranging within S1 Pivot at 1.1337 and S2 Pivot at 1.0672 for crossing 1.0962 support level from above to below. if the price breaks S2 Pivot at 1.0672 so we may see good breakdown possibility with 1.0461 as the next bearish target.

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